AmpereHour Energy Secures $5 Million Funding for Expansion

13 Mar 2025 CW Team

The agreement between the two companies has been signed through Singularity Growth Opportunities Fund II, under which Singularity AMC acquired a 9.6% stake in HEG and Bhilwara Energy for Rs 2.5 billion (~$28.64 million). Additionally, the firm holds the option to acquire a further 9.6% stake with a similar investment.

HEG currently holds a 49.01% stake in Bhilwara Energy and will divest 4.71% of its shares through this transaction. The partnership intends to create a robust energy transition platform focusing on various sectors, including power assets, battery-grade anode materials, food-grade bottle-to-bottle recycling, graphene, and advanced battery systems manufacturing for energy storage and electric vehicles.

Commenting on the development, Yash Kela, Partner at Singularity AMC, said, “We are excited to partner with Bhilwara Energy and HEG in their ambitious journey to create a leading energy transition platform that focuses on clean energy solutions, advanced carbon materials, and innovative battery technologies.”

The collaboration will emphasize driving organic growth, establishing new greenfield projects, and pursuing strategic acquisitions and partnerships. With this investment, Bhilwara Energy is nearing its total fundraising target of Rs 30 billion (~$343.71 million).

Earlier, in May 2024, HEG approved the demerger of its graphite business, transforming the existing company into a platform for green energy businesses. These include hydro and wind energy through Bhilwara Energy, energy storage solutions via RePlus, and advanced carbon business through The Advanced Carbons Company.

Replus Engitech, a subsidiary of Bhilwara Energy, commissioned a 550 MWh Battery Energy Storage System (BESS) manufacturing plant in 2021. The company also holds 1,261.52 MW of hydropower projects and 14 MW of wind power projects under its subsidiaries.

Additionally, Bhilwara Energy emerged as one of the winners of the Gujarat Urja Vikas Nigam’s Phase IV standalone BESS auction held in December 2024.

The investment comes when corporate funding for energy storage companies, including VC investments, public market funding, and debt financing, grew by 5% year-over-year. According to Mercom Capital Group’s Annual and Q4 2024 Funding and M&A Report for Storage & Grid, corporate funding for energy storage companies rose to $19.9 billion across 116 deals in 2024, compared to $19 billion across 120 deals in 2023.

The strategic partnership between Singularity AMC and Bhilwara Energy is expected to drive innovation and accelerate the transition to cleaner energy solutions in India.

Growth equity firm Singularity AMC, backed by prominent investor Madhusudan Kela, is investing Rs 5 billion (~$57.2 million) in Madhya Pradesh-based renewable energy company Bhilwara Energy. The investment aims to establish an integrated energy transition platform named HEG Greentech. The agreement between the two companies has been signed through Singularity Growth Opportunities Fund II, under which Singularity AMC acquired a 9.6% stake in HEG and Bhilwara Energy for Rs 2.5 billion (~$28.64 million). Additionally, the firm holds the option to acquire a further 9.6% stake with a similar investment. HEG currently holds a 49.01% stake in Bhilwara Energy and will divest 4.71% of its shares through this transaction. The partnership intends to create a robust energy transition platform focusing on various sectors, including power assets, battery-grade anode materials, food-grade bottle-to-bottle recycling, graphene, and advanced battery systems manufacturing for energy storage and electric vehicles. Commenting on the development, Yash Kela, Partner at Singularity AMC, said, “We are excited to partner with Bhilwara Energy and HEG in their ambitious journey to create a leading energy transition platform that focuses on clean energy solutions, advanced carbon materials, and innovative battery technologies.” The collaboration will emphasize driving organic growth, establishing new greenfield projects, and pursuing strategic acquisitions and partnerships. With this investment, Bhilwara Energy is nearing its total fundraising target of Rs 30 billion (~$343.71 million). Earlier, in May 2024, HEG approved the demerger of its graphite business, transforming the existing company into a platform for green energy businesses. These include hydro and wind energy through Bhilwara Energy, energy storage solutions via RePlus, and advanced carbon business through The Advanced Carbons Company. Replus Engitech, a subsidiary of Bhilwara Energy, commissioned a 550 MWh Battery Energy Storage System (BESS) manufacturing plant in 2021. The company also holds 1,261.52 MW of hydropower projects and 14 MW of wind power projects under its subsidiaries. Additionally, Bhilwara Energy emerged as one of the winners of the Gujarat Urja Vikas Nigam’s Phase IV standalone BESS auction held in December 2024. The investment comes when corporate funding for energy storage companies, including VC investments, public market funding, and debt financing, grew by 5% year-over-year. According to Mercom Capital Group’s Annual and Q4 2024 Funding and M&A Report for Storage & Grid, corporate funding for energy storage companies rose to $19.9 billion across 116 deals in 2024, compared to $19 billion across 120 deals in 2023. The strategic partnership between Singularity AMC and Bhilwara Energy is expected to drive innovation and accelerate the transition to cleaner energy solutions in India.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..